More ways to flip your Pan $CAKES

By Nams | cryptohowto | 14 Dec 2021


Pancakeswap is probably one of my most favorite projects in crypto. Seriously! What Pancakeswap is doing for crypto is nothing short of amazing. At the moment, Pancakeswap is a platform processing the most transactions in crypto by far! Several reasons exist for Pancakeswap's success, including low fees, fast transactions, one-stop shop for BSC tokens, among others. Given the fundamentals driving Pancakeswap's growth, it is only right to assume that it has not yet reached the pinnacles that the devs plan it to reach. If you ask me, a price of $100 per $CAKE within the next few months is not really a far-fetched dream. That's how bullish I am on $CAKE, but let me not feed you too much of the hopium I'm taking.

7b25668b150eabf1671d4d98a21b682ca8238b5f089508b330ca21f1bf317698.pngfeeding on too much $CAKE hopium

$CAKE is a bluechip token that has continued to give very attractive returns on a number of staking platforms, some of which I had talked about in my article here. This article could be considered a sequel to that article where I gave examples of the best platforms to stake your $CAKE for some juicy rewards. Today, I would like to mention one more place where your $CAKE would give you amazing returns on your investment.

You can keep your cake on the moon for some stellar returns!

One of the most recent use cases for $CAKE that I discovered lately is staking on the lottery platform, Moonpot. Moonpot is a win-win lottery on BSC that allows you to do 2 things with your $CAKE. The first thing is that your $CAKE is staked on a secure platform where you are rewarded at a very attractive APY. Your total APY rewards will be slit between $CAKE and $POTS. $POTS is the native token for the Moonpot platform. $CAKE is auto-compounded, while $POTS can be harvested as you wish.

88a9ae6b8369ceb0556a48faba7cc07ab87ee0d639c9ed2d2a88aece30de5e0a.jpgsome stellar APY and a chance to moon

The second thing that will happen with your $CAKE on Moonpot is that you will be entered in a lottery where you stand a chance to win big money along with 4 other stakers every week. The $CAKE pot on Moonpot gives weekly prizes of $CAKE to 5 winners. Please note that winning is based on the amount of funds that have been deposited in the pot and the interest rate, therefore it changes from week to week.
There is also a $CAKE sidepot on Moonpot where draws are conducted daily. For the CAKE side pot, there is only one winner per day, the winnings are much smaller, and there are no staking rewards when you put your $CAKE in this sidepot. However, the upside is that the draws are conducted every day so it increases your chances of winning the draw.

6c978bc080a29ce3604685d68d8c554af4a87e367b8c48d9bfde8bbe44fc9da9.pngdaily winnings on CAKE side pot 

Why deposit your $CAKE on Moonpot?
One of the most bullish fundamentals for Moonpot is that it is a Beefy Finance project. Beefy finance is a successful yield farming optimizer that started on BSC, and has now grown multi-chain to include other chains like Polygon, Harmony, Moonriver, Fantom, Celo, AVAX, Cronos, Arbitrum, and HECO. The TVL is at a billion dollars as the time of writing this article. Beefy finance is a platform that takes security very seriously. Beefy code is audited by certik. Apart from being audited, the platform is insured by InsureAce, and they have a bug bounty with Immunefi. Clearly, they take security very serious.

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Beefy Finance takes security very seriously

There is also a strategy to increase your chances of winning the lottery on Moonpot that I just discovered. See the illustration below. When you stake $CAKE, you receive rewards in $CAKE (which is auto-compounded) and $POTS, as well as a chance to win in the weekly draw. If you win $CAKE, you can repeat the process by reinvesting the $CAKE in Moonpot to give yourself an even greater chance of winning the next lottery. Then, you can harvest $POTS and stake it in the $POTS pot which gives you rewards in $POTS and enters you into 'Ziggy's' bi-weekly lottery that has 10 winners. Ziggy's pot is the most lucrative pot on Moonpot thus far.

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strategy to increase your rewards and boost your chances of winning

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Nams
Nams

Blogger. Cryptocurrency enthusiast. Economist. Researcher. Cryptocurrency is the future, and the future is now.


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